Nexstar to Buy TEGNA in $6.2B Deal, Creating Local News Powerhouse

Author: Benzinga Newsdesk | August 19, 2025 06:02am

Nexstar Media Group, Inc. (NASDAQ:NXST) ("Nexstar") and TEGNA Inc. (NYSE:TEGNA) ("TEGNA") announced today that they entered into a definitive agreement (the "Agreement") whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA's net debt and estimated transaction fees and expenses. The purchase price represents a 31% premium to TEGNA's average 30-day average stock price ending August 8, 2025, the last closing stock price prior to media reports of a potential transaction. Following completion of the transaction, the combined entity will be a leading local media company, well-positioned to compete in today's fragmented and rapidly evolving marketplace. The new company will be better able to serve communities by ensuring the long-term vitality of local news and programming from trusted local sources and preserving the diversity of local voice and opinion. Nexstar will also be able to provide advertisers with an even greater variety of competitive local and national broadcast and digital advertising solutions to serve brands and consumers more effectively.

Posted In: NXST TEGNA TGNA